In the prior art, there are number of blade sharpening kits available which generally have consisted of a pair of members cooperable for clamping a blade to be sharpened therebetween, a holder or support for such clamping members, and a tool provided with a honing stone and a guide rod which may be manually grasped by a user and guided over a protruding cutting edge of a blade for sharpening such end. Although such assemblies have been effective in providing a simple and readily usable arrangement for effectively sharpening blades, they typically consist of an excessive number of components required to be assembled and disassembled, and correspondingly are unsuitable to be readily contracted, into a compact package for storing and handling purposes. Accordingly, it is the principal object of the present invention to provide a blade sharpening kit which includes a minimum number of components, may be readily assembled for use, is easily and effectively usable and may be readily dissembled and packaged into a compact assembly which may be conveniently stored and handled.